I stoppedreadingnewsseveralyearsago, andyouprobablyshould, too.
I usedtobereallyinternewsand I wouldreadGoogleNewseverydayyahoonews.
I wouldreadTheEconomistonce a week, andthereason I didallthisisbecausemylivelihooddependedonit.
I was a daytrader, andthatneededtobeabletounderstandallthenewsthat I possiblycould.
And I wouldjustabsorbbestmuchnewsas I could.
And I wouldtrytousethisnewsinformationtomakeinformedtradeseveryday.
Like I thoughtthatbasically, I wouldbeuptogetsomesortofinformation.
Andbasedonthat, I couldmakesomeintelligenttrade.
However, ifyoureadmostinvestingbooks, theyactuallytellyouthatshorttermtradingisnotreally a goodstrategy.
Youcan't reallybeatthemarketeasilythatwayyou'recompetingwith, youknow, alltheusinginformationisalreadypresident, and I wasfindingthatsometimes I makemoney.
Sometimes I wouldlosemoney, anditwasreallyhardtomaketheirtrades, andmostofthetimetheinformationwasalreadyPreston.
Andwhen I thoughtaboutallthenewsthat I havebeenreading, itwasprettymuchvalueofthis.
Like, I wasn't abletogainanymonetaryvaluefromthatnews, anditwasbasicallybecominglikeentertainmenttomelike I mightthosewillhavebeenreadingreaditwerejust a lotoffunortoo, bytheway, andtheotherthing I realizedwasafter I hadspent a goodyearortwotrendtostandtopofthenews, I foundthat I haddevelopednoskillsandthatreadingnewsisnot a goodinvestmentoftime.
Intheolddays, itwasconsideredveryrespectabletoreadthenews, and I wouldagreewiththatliketherewasfair.
Thereareonly a fewnewspapersthatwouldbereportinginformationabouttheworld, andtherewas a competitiveedgeforanyonetobeabletounderstandwhatwashappeningintheworldThesedays.
Theyjustfinishedreading, oftenuse, andeventhenyouwouldn't havecovered a lotofit.
Howdoyoufeelforthatinformation, Right?
Like I'veseen, somepeoplesaythey'rejustgonnagiveFacebookorTwitterorgiveupallsocialmedia.
And I don't feelthatthat's reallyquitetherightsolution, becauseallthatinformationcouldbeusefulandwhatyoureallyneedtobedoingthis, understandinghowtofilterthatinformationandbeingabletohandlemassiveamountsofinformation.
And I cantellyouonethingisthatwhen I usedtoworkatGoogle, thebestengineersandprojectmanagersandknewtherewouldbehandlingprobably 5 to 10 timestheamountofinformationthat a normalpersonishandling, theyarereallyontopofthings, andtheyneedtobefortheirjob, liketheyneedtojusthandletonsofemail, tonsofdocuments, tonsofpresentationsandjustabsorballthatinformation.
And I wouldsaythat a lotofthosepeoplebasicallyhavereallygoodfiltersetup, likemaybetheygettonsofemaileveryday, andtheywouldjusthavereallygoodfilterstohelpthemorganizewhatcouldbenoiseandwhatcouldbe a signal, maybejustquicklyskinnedemailsthatmaynotbeusefulnewsandthings.
Maybethecheckeronce a dayorsomethinglikethat, liketheyjustneedtohave a legalsystemsetupsothatthey'renotwastingalloftheirtimereadingnews.
Andsomepeoplewouldsaythatit's importanttoreadingyousothattheyseemlikethey'reintelligentandtheycanhaveintellectualconversationwithanotherpersonat, like a dinnerparty.
I'm notsureifthat's really a valuableskilltohaveanymorelikeItmakesyouentertainingatdinnerparties.
Maybe, butevenmanypeoplethesedays I can't spendanothertimetryingtofigureoutlikewho's thevicepresidentorhowmanywarswerefightingrightnow, andalongwiththat, I wouldsaythatevenreadingitselfisnolongeranissue.
I wouldimaginethat I mean, theroadsshouldprobablybelike 99% vigorouslikeeveryone's readingblood, socialmediacommentsthere, textingtoeachother.
I don't thinkreadingisreally a problemforteamsanymore, becausepeoplearereadingallthetimenowjusttobeabletocommunicatewiththeirfriends.
And, um, hackernews, basically, I think, isgreatforstayinguptodatewith, likestartuptechnewsandthentechnameisgenerallylikebiggercompany.
Thetechnewslikeindustry, yourwhitetechnique.
So I thinkthoseaircoveryou.
Andthen I alsocheckedthis'llotherfundthesitezerohedgedotcom, whichislike, I don't knowwhy I checkit.
Youknow, it's just a daytraderwebsite, basically, andtheyreportonverycontraryandnews.
I almostthere's almostnovalueinthis.
I justIt's just a habitthatkeeparound, thenit's justhumangloomnews, really, anditgivesmekindof a healthycontraryandbalancetoaboutthemainstreamnews.
So, like, basically, yourperspectiveontheworldisshapedbythenewsourcesthatyouchoose.
Like, forexample, ifyouwatch a lotofFoxNews, thenyouprobablybecome a veryconservativetypeofpersonbecausethat's thebiasofthatchannel.
Andthen, likeCNN, forexample, maybe a littlebitmoreliberal.
I basicallydon't readmuchzerohedgebecauseit's justthearticlesairsoopaqueandit's difficulttoread.
I don't evenknowwhatthey'retalkingabout, so I wouldn't reallyrecommendthatone, andthen I wouldchecksomeofmysocialmedia, and I wouldsaythekeytothisisyoudon't wanttocheckitallthetimeeveryday.
Like I wouldsay, ifyoucheckthatonceortwice a day, thatmightbesufficient.
Butdoingthat a lot, I think I justendupbringing a lotofyourtime.
I stoppedreadingnewsseveralyearsago, andyouprobablyshould, too.
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